HighVista Strategies Closes Oversubscribed Private Equity Fund X
02 May 2024 - 12:30AM
Business Wire
Successful Close of 10th Fund Reflects
Strong Support of Firm’s Longstanding Focus on Investing in the
Lower Middle Market
HighVista Strategies, LLC (“HighVista”), an alternative asset
manager pursuing specialized investments in public and private
markets, today announced the final close of HighVista Private
Equity X, LP. The fund closed on $675 million of commitments,
including a sizeable GP commitment and other affiliated capital.
HighVista Private Equity X received strong support from a broad
group of longstanding investors, including pension funds,
endowments, foundations, and family offices, in addition to
welcoming several new investors into the program.
“We are deeply grateful for the support from our existing
investors, as well as many new investors, particularly in this
challenging fundraising environment,” said John Dickie, Partner and
co-head of HighVista’s private equity strategy. “We believe our
steadfast focus on the lower middle market and long history of
supporting the growth of small private companies resonates with a
wide range of clients. There is an unusually compelling opportunity
today to invest in the small end of the private equity ecosystem,
and we are excited to have a fresh pool of capital to deploy
against this opportunity.”
Like its predecessor funds, HighVista Private Equity X will
invest in a diversified pool of small, privately-held companies,
typically with enterprise values less than $150 million. The fund
has a deliberate strategy of partnering with sub-$500 million
specialist private equity sponsors, co-investing directly into
founder-owned and founder-led businesses in the U.S., and
opportunistically acquiring lower middle market secondary
interests.
“The HighVista private equity team has been investing in the
lower middle market for over 20 years, and we have continuously
refined our approach to capturing alpha in the small buyout
market,” added Scott Reed, Partner and co-head of the firm’s
private equity strategy. “This latest fund close speaks to the
trust our investors have placed in our team’s ability to drive
attractive returns across cycles in this segment of the private
equity landscape.”
“HighVista’s North Star as a firm is the pursuit of outsized
alpha for our clients, and we are at our highest conviction when
investing in structurally inefficient markets,” said André Perold,
HighVista’s CIO and co-founder. “The small-company buyout universe
is a perfect example, where we observe less competition as a
provider of capital, and entry valuations are more attractive. With
the closing of this fund, we look ahead toward continued success in
delivering for our clients.”
About HighVista Strategies LLC
HighVista Strategies LLC is an employee-owned specialty
alternatives asset manager that brings investors alpha
opportunities in structurally inefficient markets. Based in Boston
and founded in 2004, HighVista manages $10+ billion of capital on
behalf of sophisticated investors globally. Our unique culture
combines inquisitive thinking with rigorous discipline, enabling us
to identify and execute on opportunities with high conviction.
HighVista is a partner for investors looking beyond the standard
playbook for differentiated ideas that can amplify returns.
HighVista’s investment strategies span private markets, including
lower middle market private equity, early-stage venture capital and
private credit; public markets, including biotechnology equities
and hedged public markets strategies; as well as multi-strategy
alternatives. For more information, please see:
www.highvistastrategies.com
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